Ascendion's Generative AI Revenue Increases 382% in H1 24

Ascendion, a provider of digital engineering services, reported a 382% increase in generative AI revenue in the first half of 2024 compared to the same period in the previous year. The company has successfully completed over 50 generative AI programmes so far in 2024.

The company said it has trained more than 1,500 employees in GenAI tools, and 57% of the workforce is now Gen AI-literate.

“Our commitment to 'Engineering to the power of AI' has driven market-leading progress in the first half of 2024. From groundbreaking client impact to significant productivity gains, we've set the bar for the industry. GenAI is already driving a significant part of our growth and business, and as we move into the second half of the year, we're doubling down on innovation and excellence, poised to deliver even greater value and transformation," said Karthik Krishnamurthy, CEO of Ascendion.

Leveraging Ascendion’s AVA+ platform, a Fortune 50 bank achieved a 50% increase in productivity and a 40% reduction in effort for data extraction and validation processes. Similarly, a major manufacturing client leveraged generative AI for customer service optimisation, resulting in a 20% increase in operational efficiency and a 25% boost in system efficacy.

Earlier this year, Ascendion also unveiled a new AI Studio in Chennai to foster creativity, collaboration, and real-time problem-solving, enabling clients to witness the transformative power of Gen AI firsthand.